U.S. heating oil futures slipped to around $2.54 per gallon, retreating from the nine-month high of $2.63 on January 17th, as falling crude oil feedstock costs and an ample supply weighed on prices. President Trump’s executive orders, including potential tariffs on Canada and Mexico, fueled concerns over weaker global demand, while his push to boost U.S. oil production and the easing of geopolitical tensions further pressured prices. Additionally, the latest EIA report revealed distillate stockpiles surged by 3.07 million barrels, nearly triple the expected 1.1 million-barrel build, with heating oil inventories rising by 0.65 million barrels, signaling ample supply.
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